#Denmark #Nordic Capital #Minerva Imaging #Ølstykke #Radiopharmaceutical

Nordic Capital Partners with Minerva Imaging for Growth in Radiopharmaceuticals

In a significant development within the radiopharmaceutical industry, Nordic Capital has announced a strategic partnership with Minerva Imaging, a leader in the field of targeted radionuclide therapies. This collaboration is set to accelerate Minerva's growth journey as it aspires to establish a globally recognized platform in the evolving market of cancer therapeutics.

Minerva Imaging, based in Denmark, operates as both a Contract Research Organization (CRO) and a Contract Development and Manufacturing Organization (CDMO). The company has gained recognition for its innovative approach to developing targeted radioligand therapies, which represent a promising frontier in cancer treatment. Under this new partnership, Nordic Capital and Minerva Imaging are committed to enhancing the company’s existing capabilities while expanding its reach on an international level.

Minerva has experienced impressive growth recently, boasting revenues surpassing DKK 225 million in 2024 and employing over 150 skilled professionals, many of whom are PhD-level scientists. The company’s expertise lies in molecular imaging and advanced oncology models, providing it with a unique advantage in delivering integrated services that meet the needs of pharmaceutical and biotechnology firms.

The global radiopharmaceutical market is on the brink of expansive growth, driven largely by rising cancer rates and increased demand for precision medicine. By partnering with Nordic Capital, Minerva is poised to scale its operations significantly, improving its scientific capabilities due to the necessary support throughout the critical stages of drug development.

Andreas Kjaer, Chairman and Founder of Minerva Imaging, expressed his enthusiasm for the collaboration, stating, "We are incredibly proud of Minerva's progress since its founding. Our innovative solutions are making a meaningful impact for our collaborators and customers, with the ultimate goal of helping patients. We look forward to continuing this journey together with Nordic Capital, which brings extensive expertise, a strong network, and the capital needed to support our next phase."

Carsten H. Nielsen, CEO and Founder of Minerva, emphasized the importance of this partnership by saying, "Together with Nordic Capital, we can focus on innovation, facilitating organic growth, and undertaking selective strategic acquisitions. Partnering with Nordic Capital will allow us to reinforce and expand our integrated service offerings to our valued customers and collaborators."

Nordic Capital, with over three decades of experience as a leading healthcare investor, is expected to bring significant operational and sector expertise to the table, ensuring Minerva accelerates its growth trajectory. According to Jonas Agnblad, Partner and Co-Head of Nordic Capital Evolution advisory, "Minerva is a frontrunner in its field, and we are deeply impressed by the team and what they have built over the past 15 years. Its rigorous scientific approach and well-established platform positions the company strongly to capture future growth in the radiopharmaceuticals sector."

Nordic Capital's Evolution platform has been active in targeting mid-market growth companies across Northern Europe, with Minerva being its eleventh investment since 2021. Although the financial details of this deal remain confidential, the transaction is expected to complete by Q3 2025, subject to regulatory approvals.

This partnership marks a transformative chapter for Minerva Imaging as it prepares to propel its operational capabilities and contribute to the advancement of radiopharmaceuticals in the healthcare industry, ultimately aiming to improve patient outcomes worldwide.

For further details on Minerva Imaging and their innovative solutions, visit Minerva Imaging's official website. For more about Nordic Capital's investments and sectors of focus, visit Nordic Capital's website.